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June 29, 2006

HOTD: Broker Switcheroo at 777 Rugby Road

house
When 777 Rugby Road last popped up on this blog, it was asking $950,000 and being listed with Mary Kay Gallagher; now the price is $975,000 and Corcoran has taken over the job. We're a little surprised that the property hasn't sold yet, but a commenter on the Open House Picks thread suggested some reasons:

The other reasons the house could be priced under the 1 million mark is that West Midwood stretches all the way down to Avenue H, has a lot of active red-bricking in that part of the nabe, and is quite a ways from Prospect Park and the ever improving amenities of Cortelyou Road. You need your car for groceries, etc..., whereas Ditmas Parkers and Park Westers, PPS residents and the Beverley crowd can easily get away without one most of the time.

Nevertheless, seems like an odd strategy to bump up the price on a place that hasn't moved yet.
777 Rugby Road [Corcoran] GMAP P*Shark
Open House Picks May 5 [Brownstoner]




Comments

Seems a fairly typical Corcoran strategy in my observation. Eventually it will be lowered back to below the original ask, but so smoothly the seller will hardly feel it, apart from some residual soreness...

Posted by: babs at June 29, 2006 11:53 AM

2.5% diff.? not enough to make issue over. Maybe the 2 basketball hoops in front of the garage will be thrown into deal now.

Posted by: Anonymous at June 29, 2006 12:29 PM

Seems to me that the seller wants a certain price to get out and he had to pay corcoran more than Mary Kay would have taken in commission so he/she increased the price. I doubt very much that moving the property to corcoran and raising the price will actually move this place (corcoran is just a very fancy website after all), but we will see. I think that anyone serious about buying in the hood would have looked at a Mary Kay listing. Probably an easily influenced inexperienced seller.

Posted by: Anon at June 29, 2006 12:52 PM

It's the Corcoran brand effect. Ya gotta pay for it. Now go out there and live who you are.

Posted by: Anonymous at June 29, 2006 1:28 PM

Corcoran can get more because Corcoran co-brokes. A Corcoran agent wouldn't have been allowed to bring a buyer to this listing while it was in the hands of Mary Kay. Mary Kay, however, is welcome to bring her buyers to any Corcoran listing out there (including this one). Small agencies charge a lower commission because they don't share it. Not co-broking severely limits the number of people who will see your listing. You get what you pay for.

Posted by: Anonymous at June 29, 2006 1:46 PM

I would like to commend Brownstoner for pointing out that you don't need a car "most of the time"

"....whereas Ditmas Parkers and Park Westers, PPS residents and the Beverley crowd can easily get away without one most of the time".

Now if Brownstoner had just tossed in that if you do sometimes "need" a car that Zip Car is the way to go. On our monthly pilgrimages, to buy stuff for the house fix up, we need to keep track of just where we parked our silver or red Zip Car at the Home Depot, Lowes, etc. lest we try to open someone else's Zip Car that is parked in a near by spot.

Apart from the occasional car rental (for big bulky Home Depoty stuff), we just take subway, bus or express bus to anything that's not in walking distance from DPW.

Posted by: Anonymous at June 29, 2006 2:18 PM

Obviously 1:46pm works for Corcoran, clearly...

The difference between Corcoran and other smaller agency is that Corcoran makes you sign an exclusive at a much Higher % then other agency, and most times they end up-co-broking with the smaller agency like Mary Kay, because she has the customers looking to buy in the area and Corcoran does not!!!

I happen to know that Mary Kay does co-broke. I was bidding on the Stratford Road house that Mary Kay has in PPS, that is currently "in Contract", and I lost out on it and I was told by Mary Kay that this deal is a co-broke..

So I guess 1:46 was wrong.

Just a little side note on most deals whether it's Corcoran, or any other agency when the deal is “in contract” or once it closes, we generally have no idea if it was a co-broke or not!!!

No agency post this:

"SOLD and YES WE HAD TO CO-BROKE"

Posted by: Anonymous at June 29, 2006 2:33 PM

I agree 2:33pm!!

It seems thats all Corcoran has going for it self that “we charge a higher commission because we have/need to co-broke”
Most other agencies will probably co-broke but sure they would prefer not to. They obviously don’t make it a big TO DO when they do.
I think I would take the lower commission. Then if my house did not sell, all you have to do is tell the agent to Co-broke and I am sure they will….

Posted by: Anonymous at June 29, 2006 2:56 PM

more and more brooklyn agencies DO cobroke..whether they are forced to or by business sense it doesn't matter...but they DO. Corcoran is full of BS witht heir sales pitches..Barbara built a beautiful company and an amazing website...the numbnuts who work their now follow a script or fail. the bully tactics win. they do no more than the other companies when it comes to open houses or marketing but the name carries and they win. half the agents at corcoran can barely spell their names

Posted by: Anonymous at June 29, 2006 3:28 PM

more and more brooklyn agencies DO cobroke..whether they are forced to or by business sense it doesn't matter...but they DO. Corcoran is full of BS with their sales pitches..Barbara built a beautiful company and an amazing website...the numbnuts who work there now follow a script, are brainwashed and 90% end up failing. the bully tactics win. they do no more than the other companies when it comes to open houses or marketing but the name carries and they win. half the agents at corcoran can barely spell their names

Posted by: Anonymous at June 29, 2006 3:29 PM

more and more brooklyn agencies DO cobroke..whether they are forced to or by business sense it doesn't matter...but they DO. Corcoran is full of BS with their sales pitches..Barbara built a beautiful company and an amazing website...the numbnuts who work there now follow a script, are brainwashed and 90% end up failing. the bully tactics win. they do no more than the other companies when it comes to open houses or marketing but the name carries and they win. half the agents at corcoran can barely spell their names

Posted by: b at June 29, 2006 3:30 PM

I wish people posting messages would only hit the send button ONCE!

Posted by: xra at June 29, 2006 3:35 PM

I wish people who write "webnuts who work their", meaning "there" wouldn't write about others being illiterate.

Posted by: Anonymous at June 29, 2006 3:45 PM

oooooooooooooooo aren't you all clever

Posted by: Anonymous at June 29, 2006 3:52 PM

Hey - it was corrected in version #2 and #3!

Posted by: HC at June 29, 2006 3:55 PM

it looks like the last of the three identical postings is correct. maybe the person hit preview and it posted? lighten up..i don't think anyone intentionally wanted that thing posted 3 times! but I do agree with them!!!!

Posted by: Anonymous at June 29, 2006 3:58 PM

Maybe the sellers got tired of Mary Kay and her attitude.

Posted by: anonymous at June 29, 2006 4:14 PM

what attitude?

Posted by: nicely at June 29, 2006 5:12 PM

OK- lets talk about Corcoron, instead of this lovely house.
I just sold my 2nd PS property. First time out, I went with Corcoron. My apt sold in 8 hours. Corcoron brought in people who had not thought about living in PS, they were coming from Manhattan and looking at a variety of neighborhoods.
This time around I went with a local broker. She worked her tail off and in the end it was a co-broke situation that made the deal. She knew the area, and the other broker had the clients with the cash. In fact, all of the offers at asking price that I got were from Manhattan based brokers. You guys are looking at the broker situation with narrow minds. Start approaching this as sales and marketing pros- you will make much more money the next time you try to sell something...

Posted by: Anonymous at June 29, 2006 5:31 PM

This house isn't that far from Cortelyou. A few blocks. No big deal. I live near this house and find that I very rarely need a car. The last time I needed one was last November! Ditmas Park and the other parts of Flatbush always get a bad rap.

Posted by: Joe at June 29, 2006 5:54 PM

Hopstop says it's an 18 minute walk to Cortelyou.
http://www.hopstop.com?action=route&route_id=6oox3t45gz87go0m

It's 7 blocks (not counting the 3"mini blocks" btwn Ave H and Gleenwood.

Posted by: Anonymous at June 29, 2006 6:14 PM

18 minutes to cortelyou? nope. maybe 10. maybe.

Posted by: Anonymous at June 29, 2006 6:31 PM

It is a walk - certainly longer than other sub-sections of Victorian Flatbush. Just curious? Where do you do your local food shopping down there w/o a car?

Posted by: Anonymous at June 29, 2006 6:39 PM

I think the point is that a car is not a hassle in ditmas park since most of the houses have driveways. It's actually a convenience. Even though people are right that you don't need one. I have a c-town that I can see from my house or I can go to the park slope food coop. I still go to the coop but its my choice. It's actually easier than when I lived in park slope and couldn't drive for fear of losing my parking space. I drive twice a week, once for preschool and once for groceries, but again I don't view it has a hassle but an added convenience to lug back a week of groceries to my driveway. I used to have to put my blinkers on and unload and then spend the next 20 min looking for a space. And even if you don't have a driveway, parking here is usually available in front of your house.

Posted by: Anonymous at June 29, 2006 7:48 PM

Anon 6:39. Regarding Local Food Shopping down by this listing. Mostly we head to Associated on Cortelyou for weekly supply- they deliver so if you don't want to lug bags that can be convenient. When we need stuff in between, there is a surprisingly adequate Key Foods on Foster (avoid the C-Town on 16th at all costs, really dirty). And the newly renovated vegetable market at Newkirk Plaza is really decent for certain produce and herbs, and a more than adequate supply of exotic hot sauces, etc... It's not the most convenient neighborhood for shopping, but it isn't bad at all.

Posted by: Anonymous at June 29, 2006 9:09 PM

hmm, that teeny tiny house on 2nd street near Bond (featured the other day) or this nice big one?
well, I guess taxes and heating and upkeep are gonna cost more here. But at least no alternate side parking to deal with,
.

Posted by: Anonymous at June 30, 2006 9:31 AM

Why do you people think you don't want a car because you live in this part of Brooklyn, you have a driveway, don't have to pay for parking, can go away when you want, and can drive to go shopping, duh. ANd you are not close to Cortelyou, it is about 6 long blocks. Maybe you could make Foster Ave and it's commercial strip, the supposed hip Cortelyou Rd. It's not even close to being that yet. Maybe in another couple of years.
And none of you would have even thought of this nabe 5 years ago, lookout for the bullets....

Posted by: Anonymous at June 30, 2006 11:44 PM

You're ridiculous. Get a life.

Posted by: Anonymous at July 3, 2006 10:18 AM

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